1)  Company X is a car manufacturer.  They sell cars to dealers, who
then sell cars to customers.  Historically, Company X has recognized
the sale of the car when it arrives at the dealership.  Company X has
decided to change its accounting policy to recognize the sale at the
time the CUSTOMER purchases the car.  If the business does not change,
only the accounting for the business changes, what is the effect on
the three financial statements.

2)  Company Z has a defined benefit pension plan. As such it owes its
employees a fixed amount for each year after they retire.  Company Z's
pension is currently fully funded, or it has a pension fund with
enough assets in it to meet the projected liabilities.  After a market
shock, interest rates rise 5%.  What is the new funded status of
Company Z and why?

3)  Company S produces steel.  The Company has decided to move from
FIFO to LIFO accounting.  What is the effect on the three financial
statements and why?

HOmework?  G-A doesn't approve of answering homework or exam questions.

Questions from interview

Besides, what student is going to pay $25 for the answer to homework questions?

Here is the answer to question #3.

The difference between FIFO (first in, first out) and LIFO (last in,
last out) is the way that the inventory that gets sold is priced. 
With FIFO, the inventory that comes in first is sold first, with LIFO
the inventory that comes in last is sold first.  This ultimately
affects the value of your inventory and the value of your COGS (cost
of goods sold).  With FIFO and LIFO it does not really matter as to
which physical units get sold first, it is rather an issue of what
cost is assigned to the units.

With FIFO, the income statement shows a higher income due to the COGS
being valued at a lower amount.  At the same time with FIFO the
balance sheet shows a higher value for the inventory at hand.

With LIFO, the income statement shows a lower income due to the COGS
being valued at a higher amount.  At the same time, LIFO lowers the
value shown on the balance sheet for inventory at hand.

Finally, the retained earnings statement will show a higher retained
earnings value at the end of the accounting period if FIFO is used as
the FIFO method gives a higher net income.

questions from an interview? I hope this is post interview and not pre-interview.